Video: Budget Freeze Won't Fix The Debt :: Political News and commentaries

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January 26, 2010

Video: Budget Freeze Won't Fix The Debt

President Obama has announced a budget freeze to address the national debt. However, as the folks at DefeatTheDebt.com point out in this brief video illustrating the freeze's impact on our national debt, it will do very little. In fact, pretty near next to bupkus.

The proposed plan only affects 1/8th of the overall budget, and fails to do anything about the escalating entitlement expenditures that are responsible for the majority of future borrowing.

Over the next decade, the federal government is projected to add $9 trillion to its existing $12.4 trillion debt. If Obama's budget freeze is successful, the government will only borrow $8.75 trillion.